Long EURUSD
Prices have expanded the current correction, reaching the 1.2260 region so far. The declines as corrective at this stage, with a drop through 1.22 needed to damage this outlook. Price has now showed a bullish bounce from support region.
Trade active
At this stage, I still view the pullback from 1.2537 as corrective, which is now close to the 1.2200 ideal region for a higher low to develop. If I am right, we should see another leg higher to test the 1.26-1.27 key resistance region before moving into a broader medium-term range. Much through the 1.2200 support zone would suggest that broader correction is already underway, with 1.20-1.18 main supports below.Note
Locking in profit of 2%. If price action moves against me I will take profit and wait for another setup opportunity.Trade closed: target reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.